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2.
eni’s profile, in summary We are an integrated energy company, committed to growth in the activities of finding, producing, transporting, transforming and marketing oil and gas. eni men and women have a passion for challenges, continuous improvement, excellence and particularly value people, the environment and integrity.• 85 countries.• approximately 79.000 employees.

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eni in the world eni is present in the main sustainability international indexes:  It has been included, for the sixth consecutive year, in the Dow Jones Sustainability World Index and for the fifth consecutive year in the Dow Jones Sustainability Europe Index; in 2008 it was the O&G Supersector-Leader.  It was admitted in the Carbon Performance Leadership Index (CPLI); the only O&G present in this specific Index; one of the only two Italian Companies admitted.  It was confirmed in the FTSE4Good in which it was included in 2006.

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preliminary remarks eni’s Board of Directors has retained a central role in the definition and approval of sustainability policies and results that are successively presented also to the Shareholders’ Meeting. The planning process involves all the Corporate functions and Business areas and leads to the definition of primary sustainability objectives and the related projects and activities to be included in the Strategic Plan. Each sustainability goal is pursued through projects and initiatives defined in specific short and medium term action plans. Primary sustainability goals identified in the planning phase take on particular relevance in the variable section of the management remuneration policy. 4

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2011 Sustainability reporting systemEni embarked, in 2010, on the path to develop an Integrated Report, and in 2011, joinedthe IIRC Pilot Programme.  Annual Report – Integrated Report - contains the most significant sustainability information to the financial community and with a synthetic overview of the whole company sustainability performances.  Eni for 2011 - a document dedicated to the detailed description of sustainability performances and the related management systems, in addition to an extensive description of Eni’s contribution to the UN objectives. It’s targeted to sustainability specialists and organizations.  The website - contains the aforementioned documents and their interactive versions, the in-depth description of the main projects and the breakdown by sector of sustainability performance. This is for all our stakeholders. 5

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what is the Integrated Report for Eni It is the main document that addresses primarily the financial community with the aim of representing how the Company creates sustainable value through an integrated management of the business. It is oriented to illustrate how sustainability contributes to value creation, claryfing some important links between financial and non financial views. It illustrates the main business goals, related risks and impacts, and the way the company manages business to avoid or mitigate such risks, adding to the “more traditional” economic and financial results. An Interfunctional Working Group was created in 2011, made up of Administration, Planning, Investor Relation, Enterprise Risk Management, Governance and Sustainability units. The working Group was appointed to develop the new reporting framework containing innovative sections namely the business model, integrated strategies, competitive scenarios, Eni’s way to operate, and a “Consolidated Sustainability Statement”. 6

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Annual Report 2011: Summary of modifications• Integration/focus on: • Strategy; • Competitive Scenario and trading environment; • Eni’s Business Model; • Inclusion of further sustainability KPIs.• Revision of the “hierarchy” of the document: the order and content of each section has been revised to allow for more efficient and direct communication, taking into account the different possibilities of investors for an in-depth assessment.• Inclusion of a Consolidated Sustainability Statement, containing all the performance data of the reporting year. 7

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Document “hierarchy” Index Number of pages Notes By reading these sections • Eni Group (business model) (approximately 8 minutes) the reader • Letter to shareholders will have an overall picture of Eni and • Profile of the year 8 of its key 2011 performances. Management Report By reading this part of the report • Eni’s strategy (approximately 10 minutes), which • Scenario and trading has an in-depth focus on strategies, environment 12 market trends and the organization, • How we operate the reader will have a complete • Governance picture of Eni. Operating review ~ 45 These sections are intended for those Financial review and other ~ 60 readers who wish to learn more about information the issues outlined in the first part of the report. Each type of Consolidated Financial Statements ~ 100 investor/stakeholder will delve intosections those topics that most interest Other Consolidated Sustainability him/her. ~ 20 Statements Other sections ~ 150 8

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Certification and assurance  The Integrated Report was reviewed and assured by Reconta Ernst & Young. Two opinions were provided : • The first regarding financial and economic information as foreseen by articles 14 and 16 of Law 39/2010. • The second, limited assurance statement, on the Consolidated Sustainability Statements, regarding non financial information, in accordance with the ISAE 3000 standard and the correspondence to the Global Reporting Initiative (GRI). Both assurance statements include the assessment regarding coherence and consistency with the Management Report.  eni for 2011 has also received a limited assurance, in line with the ISAE 3000 standard, provided by the same accounting firm on the basis of its correspondence to the UN Advanced Level Differentiation Programme criteria and aspects foreseen by the Blueprint.  The sustainability reporting system received the GRI check and confirmation of the A+ application level. 12

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Next steps• Integrate ESG risks and impacts• Pioneer the possibility, and related methods, to link financial and non financial indicators, in terms of cost reductions or revenue generation coming from sustainability initiatives and activities• Try to better define the specific materiality of the Integrated Report.• Identify new “ways” of integrated communication. 13

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Integrated Report: sustainability in eni’s strategyan exampleeni confirms its growth strategy: sustainability contributes to the achievement of businessgoals in the medium and long term.E&P – profitable growth in the upstream Technological innovation allows to acquire cutting edge skills that reduce time to market, sustain the increase in production, increment the recovery factor and develop activities in extreme environments, in marginal fields and in deep/ultradeep water. The flaring down programmes provide for important investment , 420 million Euro, in the next four years, to reach a 80% reduction in the volume of the gas sent to flaring envisaged in 2015 (compared with the volume burnt in 2007). A further about 4 billion euro will also be invested for the usage of associated gas in the main development projects operated by eni foreseen in the next four years. eni aims to improve the access to energy of the local communities by promoting and establishing networks of gas and electricity distribution to local communities (Congo,, Nigeria, Mozambique).